Stanley Laman Group Ltd. raised its holdings in shares of BlackLine, Inc. (NASDAQ:BL - Free Report) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,879 shares of the technology company's stock after purchasing an additional 5,566 shares during the period. Stanley Laman Group Ltd. owned 0.16% of BlackLine worth $4,788,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of BlackLine by 4.9% during the 4th quarter. Principal Financial Group Inc. now owns 305,031 shares of the technology company's stock worth $18,534,000 after buying an additional 14,256 shares during the period. Sei Investments Co. grew its holdings in BlackLine by 6.2% during the fourth quarter. Sei Investments Co. now owns 147,381 shares of the technology company's stock valued at $8,955,000 after purchasing an additional 8,558 shares during the period. Bridgewater Associates LP bought a new stake in BlackLine in the fourth quarter valued at approximately $244,000. Deutsche Bank AG boosted its position in shares of BlackLine by 59.2% during the fourth quarter. Deutsche Bank AG now owns 53,811 shares of the technology company's stock worth $3,270,000 after purchasing an additional 20,008 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of BlackLine by 62.9% during the fourth quarter. Wells Fargo & Company MN now owns 96,597 shares of the technology company's stock worth $5,869,000 after purchasing an additional 37,285 shares in the last quarter. Institutional investors own 95.13% of the company's stock.
BlackLine Price Performance
Shares of NASDAQ BL traded up $1.27 during midday trading on Monday, reaching $55.33. The company's stock had a trading volume of 712,594 shares, compared to its average volume of 755,152. The company has a market cap of $3.45 billion, a P/E ratio of 38.16, a P/E/G ratio of 10.80 and a beta of 0.94. BlackLine, Inc. has a fifty-two week low of $40.82 and a fifty-two week high of $66.25. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.69 and a current ratio of 2.59. The business's 50 day moving average price is $51.12 and its two-hundred day moving average price is $54.49.
Insider Transactions at BlackLine
In other news, CRO Mark Woodhams sold 1,856 shares of BlackLine stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $54.65, for a total value of $101,430.40. Following the completion of the sale, the executive now owns 61,390 shares in the company, valued at $3,354,963.50. The trade was a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Michelle D. Stalick sold 795 shares of BlackLine stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.14, for a total transaction of $43,836.30. Following the completion of the sale, the chief accounting officer now directly owns 25,235 shares of the company's stock, valued at approximately $1,391,457.90. This trade represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.60% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms have weighed in on BL. Cantor Fitzgerald started coverage on BlackLine in a report on Tuesday, June 3rd. They set a "neutral" rating and a $58.00 target price on the stock. Truist Financial boosted their price objective on BlackLine from $40.00 to $45.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. DA Davidson dropped their target price on shares of BlackLine from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Piper Sandler upped their price target on shares of BlackLine from $46.00 to $50.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen downgraded BlackLine from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, BlackLine has an average rating of "Hold" and a consensus target price of $60.54.
View Our Latest Research Report on BL
About BlackLine
(
Free Report)
BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.
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